XJ Creditors

[XJWRENCH]

It looks like somebody is getting anxious to save the ship, a little surprised this hasn't been talked about here.........

The creditors committee of Mesaba Airlines Inc. is offering to help broker a deal between the Eagan-based airline, which is in Chapter 11 bankruptcy, and its unions.
In a U.S. Bankruptcy Court filing, the creditors committee said Mesaba was no closer to reaching a resolution than they were a year ago, and asked the judge to allow the creditors group to help facilitate labor deals with flight attendants, pilots or mechanics, according to media reports.
If the bankruptcy judge approves Mesaba's request to throw out its contracts, the creditors have asked that Mesaba not be allowed to change its pay rates or contracts for at least 10 business days.
Mesaba is owned by Minneapolis-based Mair Holdings Inc. (Nasdaq: MAIR - News).
In late June Mesaba asked a bankruptcy judge for the second time to toss its labor contracts. The feeder carrier for Northwest Airlines Corp., Mesaba filed for bankruptcy protection last fall after Northwest (Pink Sheets: NWACQ - News) did the same.
Published July 6, 2006 by the Minneapolis/St Paul Business Journal</I>

 

[Hulk Hogan]

Somebody has a weak stomach. My guess is (granted uneducated and worthless) the motion is denied. I just hope not because of a technacality otherwise we will probably see 19.4% again. We are no closer because of mgt's refusal to negotiate (seems obvious if you look at how much time they have spent with the unions outside of court). Friday can't come fast enough.